397612 07: Pressman Bruce G. Brzozowski inspects the printing process of the new Series 2001 one-dollar bill notes, which contains the signatures of U.S. Treasury Secretary Paul O''Neill and U.S. Treasurer Rosario Marin November 21, 2001 at the Bureau of Engraving and Printing in Washington, DC. (Photo by Alex Wong/Getty Images)
Roommates, when it comes to debt, it’s a thing that many people struggle with. According to Forbes, in the first quarter of 2022, consumer credit card debt rose to $841 billion. With so many Americans trying to make payments to decrease debt, Frida Leibowitz, Rachel Lauren, and Maxime Fourmault are working to help Americans reduce their credit with the platform Debbie.
Forbes reports Debbie is a “habit-shifting rewards platform” that leverages behavior psychology to craft financial products that give users a path towards a healthier financial future. To break it down, Debbie will essentially allow you to “get paid to pay off your debt.” Here’s how it works! The application is a rewards platform for debt payoff, which puts users on track to be net worth and cash flow positive.
The application relies on Cognitive Behavioral Therapy and behavioral psychology. This is solely to help users receive insights into their spending habits, gradually shifting the spender’s behavior. Adam Moelis, Co-founder of Yotta and one of Debbie’s angel investors, said, “A lot of FinTech apps now offer financial wellness tools. But they often focus on short-lived relief rather than on building long-lasting financial habits.”
He added, “Debbie uses behavioral psychology concepts to create a personalized, engaging, and accessible journey to debt freedom for those struggling with perpetual cycle of debts, significantly increasing their chances of achieving long-term success.”
Users can also look forward to products and services that incentive paying off debt, help with saving money, and helps users build long-term wealth through homeownership, investing, and retirement in the future. Currently, the website shows the application is launched in beta, by invite only. However, interested individuals can request to join their waitlist.
Roommates, are ya’ll trying to get the Debbie app?
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